Equitrans Midstream Co. (NYSE:ETRN) Stake Increased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its stake in Equitrans Midstream Co. (NYSE:ETRN) by 0.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,073,861 shares of the company’s stock after buying an additional 24,904 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.93% of Equitrans Midstream worth $50,883,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ETRN. Rise Advisors LLC bought a new stake in Equitrans Midstream during the first quarter valued at $25,000. Harvest Fund Management Co. Ltd bought a new position in shares of Equitrans Midstream during the fourth quarter worth about $39,000. Mather Group LLC. bought a new position in shares of Equitrans Midstream during the first quarter worth about $54,000. Hexagon Capital Partners LLC grew its position in shares of Equitrans Midstream by 185.8% during the fourth quarter. Hexagon Capital Partners LLC now owns 5,716 shares of the company’s stock worth $58,000 after acquiring an additional 3,716 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Equitrans Midstream during the fourth quarter worth about $101,000. Institutional investors own 87.35% of the company’s stock.

Equitrans Midstream Price Performance

ETRN stock traded down $0.26 during trading on Friday, hitting $12.71. The company had a trading volume of 2,577,223 shares, compared to its average volume of 4,835,044. Equitrans Midstream Co. has a fifty-two week low of $8.44 and a fifty-two week high of $14.64. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 4.88. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 11.68 and a beta of 2.01. The business has a 50 day moving average of $13.65 and a 200 day moving average of $11.99.

Equitrans Midstream (NYSE:ETRN) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Equitrans Midstream had a net margin of 31.69% and a return on equity of 30.21%. The company had revenue of $364.27 million during the quarter, compared to the consensus estimate of $345.79 million. During the same period in the prior year, the company earned $0.22 EPS. Equitrans Midstream’s revenue was down 3.2% on a year-over-year basis. As a group, research analysts predict that Equitrans Midstream Co. will post 0.75 earnings per share for the current year.

Equitrans Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date was Monday, May 6th. Equitrans Midstream’s payout ratio is 66.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Morgan Stanley upped their price target on shares of Equitrans Midstream from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Wells Fargo & Company upped their price target on shares of Equitrans Midstream from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Finally, US Capital Advisors lowered shares of Equitrans Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.10.

Equitrans Midstream Profile

Equitrans Midstream Corporation owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company operates through Gathering, Transmission, and Water segments. It operates dry gas gathering systems of high-pressure gathering lines and FERC-regulated interstate pipelines and storage systems.